TIPP CITY, OHIO — Midwest supermarket chain Meijer has announced plans to build a $100 million dairy production facility in Tipp City, located about 15 miles north of Dayton, Ohio, according to the Dayton Business Journal. The 85,000-square-foot facility will be built in three phases during the next three years, with one phase set to open each year. Meijer plans to hire more than 100 people, who will prepare milk and other dairy products for the chain’s Ohio stores. Meijer is a Grand Rapids, Mich.-based retailer that operates 204 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois and Kentucky.
HEMPSTEAD, TEXAS — Marcus & Millichap has brokered the sale of a 108,000-square-foot industrial building in the far northwest Houston suburb of Hempstead. Constructed in 2009 and expanded in 2013, the tilt-wall facility features crane-ready space and includes climate-controlled labs and finished office space. Logan Industries International Corp, a provider of hydraulic repair, field and design services for the offshore oilfield industry, holds an extended triple-net lease for the property. Located at 1000 Blasingame Road, the asset is in proximity to a Southern Pacific rail line near the intersection of U.S. Highway 290 and State Highway 6. Christopher Jones of Marcus & Millichap represented the seller, a private investor, in the transaction. Charlie Hampton, also with Marcus & Millichap, represented the buyer, a limited liability company.
MILWAUKEE — Briohn Building Corp. has begun construction on a 50,000-square-foot industrial facility for Rishi Tea in Milwaukee's Menomonee Valley Industrial Center. The $4.9 million facility is slated for a spring completion, according to the Milwaukee-Wisconsin Journal Sentinel. Rishi, which blends, packages and distributes high-end teas, currently leases 38,000 square feet at the former Louis Allis Co. factory, located at 427 E. Stewart St. in the Bay View neighborhood.
DALLAS — Developer Billingsley Co. has leased 25,087 square feet of warehouse space in northern Dallas to Ultravision International, which manufactures, installs, finances and maintains LED displays. The property, located at 4542 McEwen Road, is within Billingsley’s Metropolitan Distribution District industrial development, which totals 684,451 square feet north of Interstate 635 and east of the Dallas North Tollway. Richmond Collinsworth of TIG represented the tenant, which will occupy the space by the end of this March.
MEDLEY, FLA. — Seaboard Marine has signed a 267,400-square-foot industrial lease renewal, which features a 64,000-square-foot expansion, at Prologis Palmetto Tradeport in Medley. Seaboard Marine’s lease term is for 10 years at 8001 N.W. 79th Ave. Seaboard Marine is PortMiami’s largest and most active cargo operator and freight transporter. Jonathan Kingsley of Jones Lang LaSalle represented Seaboard Marine in the lease transaction. Brian Smith of Cushman & Wakefield represented the landlord, Prologis.
GREENVILLE, OHIO — Precision Fab Inc. (PFI) has signed a lease to occupy an 87,000-square-foot manufacturing facility in Greenville, located about 40 miles northwest of Dayton, Ohio. PFI builds metal racking for the automotive industry and has serviced Toyota, Honda, BMW and the Big 3. Tim Echemann of Industrial Property Brokers arranged the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of JFK Airgate, a four-building industrial and office property totaling 229,000 square feet, and an adjacent parcel in Queens for $53.1 million. The estimated stabilized cap rate of the property is 5.3 percent, according to San Francisco-based Terreno Realty Corp, which purchased the property. JFK Airgate, located approximately one-half mile north of John F. Kennedy International Airport, is 98.6 percent leased to 18 tenants, including some of the largest international air cargo and logistics firms. The 65,000-square-foot Airgate I is a warehouse with 14 dock-high and three grade-level loading positions and parking for 56 cars at 151-02 132nd Ave. Airgate II is also a warehouse that spans 66,000 square feet with 12 dock-high and three grade-level loading positions and parking for 76 cars at 150-10 132nd Ave. The 73,000-square-foot Airgate III is a distribution building with 18 dock-high and one grade-level loading positions and parking for 138 cars at 152-02 Baisley Blvd. Airgate IV is an office building spanning 25,000 square feet and includes parking for 58 cars at 152-01 133rd Ave. The 0.2-acre paved parcel includes parking for 27 cars at Baisley Boulevard and 132nd Avenue. Andrew Merin, …
ELGIN, ILL.— Chicago-based real estate investment firm Bridge Development Partners LLC has sold its 319,043-square-foot industrial facility in suburban Chicago to Boston-based TA Associates for $20.2 million. The property, which is located at 2700 Alft Lane at Randall Crossings Business Park in Elgin, features 30-foot clear ceiling heights. Jeff Devine and Steve Disse of Colliers International, as well as Ken Franzese and John Cassidy of Lee & Associates, represented Bridge and its capital partners, Wanxiang America Real Estate Group and Hunt Realty Investments Inc., in the transaction.
BELLEFONTAINE, OHIO — A Dublin, Ohio-based plastic injection mold manufacturer has acquired a 33,000-square-foot industrial facility at LCG Commerce Park in Bellefontaine, located about 55 miles northwest of Columbus. M3/IEG has plans to move into the new location by the end of February or beginning of March. Link Construction will retrofit the restrooms and office space, update the sprinkler system and add a few doors. Tim Echemann of Industrial Property Brokers arranged the leasing transaction.
NEW YORK CITY — Wenner Bread Products has signed a 72,000-square-foot lease renewal at 2001 Orville Drive in Bohemia, a community in Long Island. The building at 2001 Orville Drive is a 72,000-square-foot property that offers access to the Long Island Rail Road, Long Island Expressway and MacArthur Airport. Rechler Equity Partners owns the property. Wenner Bread Products is a maker of breads and frozen dough for supermarket bakeries and restaurants. Chuck Tabone, managing principal of Newmark Grubb Knight Frank’s Long Island office, represented the tenant in the transaction.